financetom
Business
financetom
/
Business
/
US army awards Lockheed Martin $4.5 billion multi-year Patriot Missiles contract
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US army awards Lockheed Martin $4.5 billion multi-year Patriot Missiles contract
Jun 28, 2024 3:21 PM

(Reuters) -The U.S. Army awarded Lockheed Martin ( LMT ) a multi-year contract worth $4.5 billion for its air defense Patriot Missiles system, the Pentagon said on Friday.

The Patriot system is one of an array of sophisticated air defense units supplied by the West to help Ukraine, as it continues its defense against Russia's invasion.

The contract covers 870 PAC-3 MSE missiles and associated hardware.

Lockheed is manufacturing the newest version of the interceptors that arm the Patriot, known as PAC-3 MSE, which cost about $4 million each, according to Army budget documents.

(Reporting by Nathan Gomes in Bengaluru; Editing by Shinjini Ganguli)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
New York halts offshore wind transmission plan amid federal uncertainty
New York halts offshore wind transmission plan amid federal uncertainty
Jul 17, 2025
July 17 (Reuters) - The New York State Public Service Commission has terminated its offshore wind transmission planning process due to stalled federal permitting, to protect state ratepayers from premature infrastructure costs, it said on Thursday. This halts the Public Policy Transmission Need (PPTN) process of seeking proposals to deliver up to 8 gigawatts of offshore wind power into New...
BRIEF-Servicenow'S Moveworks Takeover Gets In-Depth Antitrust Review- Bloomberg News
BRIEF-Servicenow'S Moveworks Takeover Gets In-Depth Antitrust Review- Bloomberg News
Jul 17, 2025
July 18 (Reuters) - * SERVICENOW'S ( NOW ) MOVEWORKS TAKEOVER GETS IN-DEPTH ANTITRUST REVIEW-BLOOMBERG NEWS Source text: https://tinyurl.com/yrdbatjv Further company coverage: ...
SL Green Realty Receives Over $1 Billion in Commitments for Debt Fund
SL Green Realty Receives Over $1 Billion in Commitments for Debt Fund
Jul 17, 2025
02:23 PM EDT, 07/17/2025 (MT Newswires) -- SL Green Realty ( SLG/PI ) said Thursday it raised over $1 billion for the SLG Opportunistic Debt Fund, surpassing its initial fundraising goal. The fund, backed by institutional investors, public pensions, and insurance firms, received over $500 million in commitments this week, according to a statement. Shares were down 5.1% in recent...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved